York Handmade supplies specially manufactured bricks for York Minster Centre of Excellence
Mayor moves to create £250m investment fund to accelerate economic growth in West Yorkshire
- The region’s housing and regeneration hotspots, where planning permission has been secured for an additional 34,000 homes on brownfield land, and regeneration plans have been drawn up to develop new neighbourhoods that are linked to transport, social and creative infrastructure. Working with Homes England and developers, the Combined Authority will look to drive housing growth by investing in flagship schemes through new partnerships and delivery mechanisms.
- The region’s culture, heritage and sport infrastructure, including pitches, libraries and concert venues. A 5,000-seat, indoor, multi-use arena could be developed, depending on the outcome of feasibility studies and provided that other key investors can be secured. Investment in the region’s creative infrastructure will boost skills and jobs, while contributing to increased wellbeing and the creation of more vibrant communities.
- The region’s plans for a home energy revolution, where every social home is retrofitted and every private homeowner can receive advice or financial support to invest in home improvements that bring down bills. The Combined Authority estimates that every social home and half of private homes must be retrofitted to meet the Mayor’s target of net zero carbon by 2038. The investment fund will be used to scale up this activity through a new Social Housing Investment Plan, incentives for homeowners to invest in green technologies such as heat pumps and solar panels, and a Home Energy West Yorkshire “One Stop Shop”, which will provide advice and support to households throughout their home improvement works.
- The region’s net zero ambitions, which will be supported through a new pipeline of green projects and five Local Area Energy Plans, co-created with the local authorities in Bradford, Calderdale, Kirklees, Leeds and Wakefield. The investment fund will help to unlock new renewable energy infrastructure such as onshore wind, and support the decarbonisation of existing assets such as buildings, businesses and transport. A proposed multimillion-pound West Yorkshire Climate Fund could blend public, private and commercial funding from banks to back new green projects through loan and equity schemes, while Mayoral investment in green skills training will help ensure that the region has the workforce it needs to deliver the green transition.
- The region’s Further Education colleges, which are facing a rising demand for space and equipment from young people needing the right skills for local, well-paid jobs. While the level of colleges’ capital funding is set by the Government, the Combined Authority is exploring investment options to meet this growing and ever evolving need. This will help to ensure that people and businesses have the skills they need to succeed, and that the region has the labour market it needs to deliver its flagship transformational projects, including a fully integrated transport system and an ambitious retrofit scheme for all social homes.
Tracsis reports revenue growth, secures key contracts
Transport technology provider Tracsis expects H1 FY25 revenue of £36.3 million, reflecting modest growth from H1 FY24 (£35.5 million like-for-like), after excluding £1.1 million in discontinued revenue.
The Leeds-based company highlighted strong contract wins and operational progress in its latest trading update. Driven by a solid order book, it anticipates improved revenue and EBITDA margin performance in H2 FY25.
Despite the slower activity in parts of the UK rail market, Tracsis reports continued demand for modernisation and digital solutions. The company’s diversification strategy is gaining traction, expanding its reach into larger strategic opportunities.
Tracsis maintains a strong cash position, allowing for ongoing investment in technology and potential acquisitions. Its core products align with the UK government’s rail strategy, though ongoing consultations may delay procurement timelines in Operations & Planning. The company expects its recurring software revenue from UK train operators to remain stable despite potential regulatory changes.
Dewsbury town centre hotel plan rejected over design and parking concerns
Kirklees Council has rejected plans for a three-storey, 33-room hotel in Dewsbury town centre, citing concerns over design, height, and the loss of parking space.
The proposal, a scaled-down version of a previously rejected six-storey, 75-room plan, faced objections from residents and the Dewsbury Chamber of Trade. While supporters argued the hotel would create jobs and boost the local economy, the Chamber of Trade expressed doubts about its quality alignment with the town’s long-term development goals.
The council determined that the potential benefits did not outweigh the negative impact on the area.
Two join board of Humber Marine and Renewables
Lincoln Business Club boosts charity by £4,800
York and North Yorkshire Business Board backs local growth sectors
The York and North Yorkshire Combined Authority’s Business Board has endorsed the key focus areas for the region’s Local Growth Plan, identifying priority sectors for economic development.
The Board, established in November to advise on strategy and policy, met in Harrogate to support the ‘Competitive Advantage Sectors,’ which include Food and Farming Innovation, Engineering Biology and Life Sciences, Clean Energy, Rail Innovation and Security, and Creative Industries and Heritage. The plan will undergo consultation with industry leaders.
Sector champions, including tourism and hospitality, manufacturing, and SMEs, have been appointed to drive development in these areas. They will engage with businesses and provide direct input to the Mayor and the Combined Authority.
Additional agenda items included a national review of small business support, updates on York and North Yorkshire’s Business Innovation Programme, and discussions on fostering female entrepreneurship in the region.
The Business Board aims to position York and North Yorkshire as a leader in rural economic development, leveraging its strengths to drive long-term growth.
EU revises green rules to ease business burden
The European Union is adjusting its environmental regulations to reduce business compliance costs while maintaining its commitment to decarbonisation. The move follows pressure from industry leaders and major economies like France and Germany, which have raised concerns over high energy costs and regulatory burdens.
The European Commission introduced a “Clean Industrial Deal” to cut red tape, lower electricity taxes, and refine corporate sustainability reporting requirements. Under the proposed changes, large companies would report on supply chain impacts every five years instead of annually, and the reporting threshold would increase from firms with 250 employees to those with over 1,000.
Despite the adjustments, the EU reaffirmed its goal of carbon neutrality by 2050 and its target to reduce greenhouse gas emissions by 55% by 2030. However, the revisions face opposition from environmental groups and some lawmakers, who argue that scaling back regulations could undermine sustainability efforts. The proposals require approval from EU member states and the European Parliament.
British Steel creates bespoke rails for Belgium
North Yorkshire sees record number of companies despite economic challenges
North Yorkshire has hit a record high in business registrations, with 67,293 companies now operating in the region, up from 65,895 at the end of 2023. Over the past year, 8,830 new businesses were established across the county, including significant growth in cities like York and Middlesbrough. This data comes from the Inform Direct Review of Company Formations, using information from Companies House and the Office for National Statistics.
The national trend reflects similar growth, with the UK’s total number of companies rising to 5,637,210 from 5,476,772 in 2023, fueled by 848,192 new formations and 690,501 dissolutions during the year.
Northern Trust acquires Brighouse Business Village for £2.85m
Northern Trust Company has acquired Brighouse Business Village in Middlesbrough for £2.85 million. The multi-let industrial estate spans 41,224 sq ft across 29 units, ranging from 729 sq ft to 3,815 sq ft.
Located near the A66, the site is adjacent to Northern Trust’s existing properties at Collingwood Court and Harwood Court within Riverside Park Industrial Estate, roughly one mile from Middlesbrough Town Centre.
This acquisition boosts Northern Trust’s presence in the North East, increasing its portfolio to over 3 million sq ft. The company emphasised that the site’s strategic location enhances its ability to support local businesses and provides greater flexibility for tenants.
Sheffield strengthens international trade ties with focus on key business sectors
Sheffield’s leaders, including Council Leader Tom Hunt and Chief Executive Kate Josephs, recently visited Pittsburgh, USA, as part of an international strategy to boost trade and investment in key local sectors. The three-day trip saw them engage with over 50 representatives from 16 organisations, including government officials, business leaders, and academics.
The primary goal was to forge deeper ties in advanced manufacturing, health technology, cultural industries, and the tech sector. Sheffield is focusing on these sectors for growth, and the visit was designed to drive collaboration and investment in these industries. The city’s strong manufacturing and health tech capabilities align with Pittsburgh’s similar strengths, offering numerous opportunities for mutual business development.
Sheffield and Pittsburgh, sister cities since 1980, share a rich industrial heritage. Both are positioning themselves for future prosperity through international trade and investment. The visit laid the groundwork for continued collaboration, knowledge sharing, and potential business partnerships in both cities.
Siemens Mobility plots greener future at Goole Rail Village
Commercial property owners face challenges in meeting energy efficiency targets
A new study from the British Property Federation (BPF) revealed that most commercial buildings in key UK cities fall short of the government’s energy efficiency expectations. In a survey covering real estate in London, Manchester, Bristol, Leeds, and other major cities, 83% of commercial properties had an energy performance certificate (EPC) rating below B.
With stringent regulations looming, commercial building owners face rising costs and limited government guidance. The BPF’s analysis points to a significant gap, with only 17% of properties in cities like Manchester and London achieving the required EPC rating of A or B. The current rules, which set a target of EPC B by 2030, require an ambitious increase in retrofitting to meet the standards across millions of square feet of commercial space.
For example, while 20% of commercial buildings meet the minimum EPC B in Manchester, over 10 million square feet still need to be upgraded to meet the 2030 deadline. Nationwide, this translates to the need for 94,595 square metres of space to be upgraded daily over the next five years.
However, the BPF is critical of the government’s lack of response to consultations that addressed these issues. They argue that the proposed interim targets—EPC C by 2027—are now unrealistic, and without more explicit guidance from the government, property owners are left in limbo.
Rob Wall of the BPF stressed that the commercial real estate sector is committed to improving energy efficiency but requires clearer rules on compliance, exemptions, and enforcement. He added that the slow pace of progress could delay meeting the EPC B target unless the government offers immediate clarity on the path forward.
Business advisers and accountants, Fortus makes acquisition to support growth in Leeds
Plans for waterfront office building conversion to support college expansion
Leeds City College, part of Luminate Education Group (LEG), has submitted a proposal to convert the vacant Livingstone House office building at Leeds West Dock into an educational space. The six-story building, currently unoccupied, would be repurposed for both education and office use to accommodate Leeds City College’s expanding needs.
The conversion would help support the college’s growth strategy, enabling the facility to serve approximately 1,000 students. This move follows the college’s recent expansions, including the new Pudsey Sixth Form College and additional buildings at its Mabgate campus.
The project is expected to retain around 70 jobs and create more opportunities in the future. The planning statement highlights that the conversion aligns with local policies for sustainable economic development, benefiting the education sector and the local economy.
Raft of businesses to move into Sheffield’s Heart of the City development
Multinational companies, local independents, cafes, and creatives are among the five new businesses moving into Sheffield City Council’s Heart of the City development over the coming months.
They include Danish inspired HYGGE café, an independent local business who are expanding into the ground floor of Elshaw House whilst keeping their existing sites at Fitzalan Square and Eyre Street.
Global professional services company Turner & Townsend has also agreed to move into Elshaw House, becoming the second major business to take up space in Sheffield’s first zero-carbon office block. The multi-disciplinary project management and programme delivery firm has been working with Sheffield City Council and Queensberry on delivering the Heart of the City project. Chris Sargent, Managing Director, Real Estate UK at Turner & Townsend, said: “We are thrilled to be moving to Elshaw House, a pioneering development that aligns perfectly with our commitment to sustainability and wellbeing. “This move not only provides us with a larger, state-of-the-art workspace but also places us at the heart of Sheffield’s vibrant and transformed city centre. The exceptional amenities and green credentials of Elshaw House will undoubtedly enhance our team’s productivity and overall work experience. “We are especially proud to relocate to a building that we played a significant role in delivering as Project and Cost Managers as part of the Heart of the City II development. This achievement reflects our dedication to excellence and innovation, and we look forward to continuing our growth and success in this outstanding new location.”Work underway on energy efficient new homes in Doncaster
Croda reports lower profits and sales amid challenging economic conditions
Croda International, a chemicals company based in East Yorkshire, has posted a decline in sales and profits for the year ending 31 December 2024. Group sales dropped to £1.63 billion, down from £1.69 billion in 2023, with pre-tax profits falling to £207.8 million, compared to £236.3 million the previous year.
Despite the weaker sales growth, Croda focused on cost reduction and operational efficiency, which helped meet profit expectations. The company highlighted improvements in its Consumer Care division, especially in Fragrances & Flavours, and solid growth in New & Protected Products. However, the absence of COVID-19-related demand for lipids and weak consumer health sales impacted its Life Sciences division. On a positive note, Crop Protection saw stronger performance in the year’s second half.
While the economic climate remains subdued, Croda has seen more stable customer inventories and demand across various markets. The company is ramping up innovation efforts to meet renewed customer interest, particularly after a slowdown in new product development during the pandemic.
Smith+Nephew boosts profits and revenues despite workforce reductions
Smith+Nephew, the Hull-based med-tech company, reported a solid financial performance for 2024. Revenues were £4.6 billion, up from £4.4 billion the previous year. Profits also significantly increased, rising to £394 million, compared to £228 million in 2023.
The growth follows the implementation of the company’s 12-Point Plan, which drives operational changes and restructuring. As part of the plan, Smith+Nephew has reduced its workforce by nearly 9%, including more than 1,000 job cuts in 2024. Most of these reductions occurred in the year’s final quarter.
Over 60% of revenue in 2024 came from products launched in the last five years. The company also focuses on improving operational efficiency, with two years of margin expansion and strong cash flow generation.
Looking ahead, Smith+Nephew is targeting continued revenue growth in 2025. To drive improved returns, the company will emphasize product development and further efficiency gains.
